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Noncontrolling Interests | 3 Months Ended
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Jun. 30, 2026
Noncontrolling Interest [Abstract] |
Noncontrolling Interests | Noncontrolling Interests Redeemable Noncontrolling Interests Redeemable noncontrolling interests, presented in temporary equity on the consolidated balance sheets as of June 30, 2026 and March 31, 2026, primarily relate to noncontrolling interests in 3 Arts and A & A. Redeemable noncontrolling interests are measured at the greater of (i) the redemption amount that would be paid if settlement occurred at the balance sheet date less the amount attributed to unamortized noncontrolling interest discount if applicable, or (ii) the historical value resulting from the original acquisition date value plus or minus any earnings or loss attribution, plus the amount of amortized noncontrolling interest discount, less the amount of cash distributions that are not accounted for as compensation, if any. The amount of the redemption value in excess of the historical values of the noncontrolling interest, if any, is recognized as an increase to redeemable noncontrolling interest and a charge to retained earnings or accumulated deficit. Changes in the carrying value of the redeemable noncontrolling interest are reflected in the calculation of basic and diluted net income (loss) per common share attributable to Lionsgate Studios Corp. shareholders, if dilutive, or to the extent such adjustments represent recoveries of amounts previously recognized in the calculation of basic and diluted net income (loss) per common share attributable to Lionsgate Studios Corp. shareholders (see Note 11). The table below presents the reconciliation of changes in redeemable noncontrolling interests:
| Three Months Ended
| June 30,
| 2026 |  | 2025
| (Amounts in millions)
Beginning balance | $ | 114.1 |  |  | $ | 93.7 |
Net income (loss) attributable to redeemable noncontrolling interests | (1.3) |  |  | 0.3 |
Adjustments to redemption value | 0.4 |  |  | — |
Cash distributions | (1.2) |  |  | — |
Noncontrolling interest related to acquisitions | — |  |  | 20.9 |
Ending balance | $ | 112.0 |  |  | $ | 114.9 |
3 Arts Entertainment. The Company has a noncontrolling interest in 3 Arts, of which a portion is reflected as a redeemable noncontrolling interest and a portion is reflected as a liability within “accrued expenses and other current liabilities” on the unaudited condensed consolidated balance sheets. •Redeemable noncontrolling interest: The redeemable noncontrolling interest balance related to 3 Arts Entertainment of $87.5 million as of June 30, 2026 reflects the fully vested equity portion of the noncontrolling interest, which is classified as redeemable noncontrolling interest outside of shareholders’ equity on the Company’s unaudited condensed consolidated balance sheets due to the embedded purchase and sale rights related to the remaining 24% ownership held by the noncontrolling interest holder that are exercisable beginning in January 2027. The redeemable noncontrolling interest is being adjusted to its redemption value through accumulated deficit over the period ending on the earliest exercise date of the purchase and sale rights in January 2027. •Noncontrolling interest reflected as a liability: A portion of the 3 Arts Entertainment noncontrolling interest is considered compensatory, as it is subject to forfeiture provisions upon termination of employment under certain circumstances. The noncontrolling interest holders’ right to sell their interest to the Company, and the Company’s right to purchase the noncontrolling interest, are formula-based amounts (i.e., a fixed EBITDA multiple), subject to a minimum purchase price, rather than being based on fair value. Since the redemption features described above are based on a formula using a fixed multiple, the compensatory portion of the noncontrolling interest is considered a liability award and remeasured at each reporting period. Changes in the estimated redemption value are recognized as compensation expense within general and administrative expense over the vesting period, which extends from January 2, 2024 through the earliest exercise date of the purchase or sale rights in January 2027. As of June 30, 2026, approximately $88.4 million is reflected as “accrued expenses and other current liabilities” on the consolidated balance sheet based on the estimated redemption amount recalculated at the current quarter end. A & A. On May 30, 2025, 3 Arts acquired a 51% ownership in A & A (see Note 3 for additional details), with the remaining 49% classified as a redeemable noncontrolling interest outside of shareholders’ equity on the unaudited condensed consolidated balance sheets. The redeemable noncontrolling interest balance was remeasured to its redemption value, resulting in a balance of $19.2 million as of June 30, 2026 (March 31, 2026 - $20.1 million). The embedded purchase and sale rights held by the noncontrolling interest holder, are exercisable beginning in November 2030. Other. The Company has other immaterial redeemable noncontrolling interests. Non-Redeemable Noncontrolling Interests CP LG Library Holdings, LLC. The Company has a noncontrolling interest representing approximately 49% of CP LG Library Holdings, LLC (“CP LG”), with the Company designated as the managing member. Upon acquisition, as the Company has the power to direct the significant activities and the right to receive benefits and obligation to absorb losses of CP LG, the Company determined that CP LG is a variable interest entity for which it is the primary beneficiary and the related assets and liabilities of the acquired library is not a business. Therefore, the Company has consolidated CP LG under the applicable accounting guidance. As of June 30, 2026, the consolidated balance sheet includes assets and liabilities of CP LG totaling $59.9 million and $2.4 million, respectively. The assets and liabilities of CP LG primarily consist of accounts receivable, investment in film and television programs, and participations and residuals. Other. The Company has other immaterial noncontrolling interests that are not redeemable and classified in shareholders’ equity on the Company’s unaudited condensed consolidated balance sheets.

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- Definition The entire disclosure for noncontrolling interest in consolidated subsidiaries, which could include the name of the subsidiary, the ownership percentage held by the parent, the ownership percentage held by the noncontrolling owners, the amount of the noncontrolling interest, the location of this amount on the balance sheet (when not reported separately), an explanation of the increase or decrease in the amount of the noncontrolling interest, the noncontrolling interest share of the net Income or Loss of the subsidiary, the location of this amount on the income statement (when not reported separately), the nature of the noncontrolling interest such as background information and terms, the amount of the noncontrolling interest represented by preferred stock, a description of the preferred stock, and the dividend requirements of the preferred stock. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 810 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/810/tableOfContent + Details
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